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. gold also had a positive day. but i believe the plunge in gold is a very good sign for the economy, just as it was in the '80s and '90s. in other words, some optimism. and senator marco rubio unveils the new immigration reform bill today. here's the key point. when we look at the benefits and score them dynamically, immigration reform will be a huge boost to the economy. "the kudlow report" begins right now. >>> first up tonight, president obama will travel to boston thursday for an interfaith service with bombing victims. more than 24 hours after two bombs ripped through marathon crowds killing three, wounding 170 others, investigators are still no closer to answers. late this afternoon, the fbi said no claims of responsibility have been received, and the search for suspects is wide open. deborah boxdy joins us now from boston with all of the latest. good evening, deborah. >> reporter: good evening, larry. i'm live here along boylston street in the heart of boston, about four blocks or so away from the marathon's finish line, where those two bombs exploded just one day ago. securi
in the economy and the lack of topline growth you're seeing from big companies reporting, like heather was referring to. >> rob, that was my point, really, is this change in market psychology. during the first quarter, that seemed to be how the market rationalized moving higher. even with a bad economic report, the fed is going to still be pumping out the $85 billion a month, so we shouldn't worry. but now we seem to be worried this week. what's going on? >> yeah, bill. i'm getting worried. i think the market psychology has changed a bit, so now we actually need good news to propel stocks higher, and i've been overweight stocks for 18 months now, but i've gotten a little more defensive here. i upgraded consumer staples, downgraded materials. haven't gone to an underweight on stocks yet, but i'm watching closely. as greg just mentioned, if the economic indicators are for the third summer in a row, turning down, this might be another sell in may, go away type summer. i don't think we're quite there yet, though. >> what are the most important numbers that we're looking at here, after the
of tumultuous, russia's president is coming under controver controversy. while russia's economy hadn't performed badly last year, falling commodity prices risk pushing the country into recession. these comments come just hours after president putin threatened to fire officials for not following his orders on public spending. geoff cutmore is outside this event. what are you hearing about these concerns and the russian economy overnight? >> reporter: absolutely. fascinating issue. we clearly see some risks emerging in the russian government at this point. and i just want to put that issue to one side for a moment. because i have with me li jiaoung. he is a former chinese minister. i'm fortunate to get the opportunity to talk to him at this event. thanks very much for speaking to me. if i could just start off by asking you, clearly, the world has been focused on the terrorist events in boston and this tragic, very un pleasaplea event. i wonder if you could dwifs a perspective from the chinese point of view here because nobody wants to see terrorism and in particular i think the chinese have an int
or does it matter if an economy will print or grow or whatever? >> the study which said once government debt hits 90% of gdp growth goes off a cliff has been thoroughly discredited and they must kick themselves that they made a mistake on the spreadsheet. people pay attention to the paper which has just come out that shows that this is a pretty sloppy piece of work. the conclusion drawn in terms of the impact of high debt to growth has been basically discredited now. it's fairly clear that governments have a lot more scope to deal with problems. >> was china wrong to pursue this strategy then to help cushion the effect of the global financial crisis and even though people are quite concerned about it including some of the chinese themselves, it sounds like from what you're saying all things considered you don't see a hard landing or crisis as a result. >> as you always say in china, it's too early to tell. i think they have a margin to get things right. if you look at greece, they went into european monetary union and have this lovely window to fix things. a lot of credit with foreign i
insight on the global economy, as well as the impact of new security concerns in light of the tragic and deadly bombings in boston. >> yeah, it was of course, at this hour when we first learned yesterday of the horrific events unfolding in boston. that is where our scott cohn is right now with the very latest. scott, one day later, what can you tell us? >> reporter: maria, 24 hours after the horrific attacks, it is still an intense crime scene behind me, as authorities try to search for any clues about who did this and why. u.s. attorney general eric holder out with a statement a short time ago, again, calling on the public to help, saying no bit of evidence is too small. they are looking for cell phone video, anything that can help them figure out and piece the facts together. we also know that the boston athletic association, which stages this marathon every year, had three surveillance cameras at the finish line. the company that provided those cameras under a sponsorship agreement tells cnbc they are cooperating with authorities. we will see whether that yields anything, but what
the economy french economy is in. now, the german survey responses say the economies were worried about the impact prices. in france, they're much more domestically focused with some suggestions that things couldn't get any worse. >> well, the domestic situation is already a known negative. just to recap for viewers, as well, the composite, which includes both the services and is manufacturing, pmi came in at 46.5 in april for the eurozone. that was just ever so slightly above the 46.4 estimate and manufacturing came in 46.5. the services figure was 46.6. but, again, it's some of the weakness in the core economy of germany that's catching the market's attention this morning. the euro weaker, the xetra dax off by about 0.2%. we're going to get some uk data out at 9:30. also coming up on the show, the how companies are battling to take a foothold in the alternative energy market in china. then at 11:10, we'll be joined by jim o'neill as he nears the end of his tenure at goldman sachs. we'll get his best and worst investment calls from his time in the city. we'll hear up for earnings from
say that the last ten years has been very bad for the economy. we've lost a lot of valuable resources and a lot of the momentum that we've had on. before, we had open markets and entrepreneurship and that's what helped china succeed. we have to go back to market forces as well as fight construction. >> so juan nubol there talking about the last decade. he was the guy that tried to buy 300 kilometers of ice and is we'll talk about that a little later, as well. clear now there is a hope for reform. i'm pleased to say kung mingh, the founder of lenovo who bought the business from ibm, he explained to eunice what he wanted from private reform to help private business in the country. >> translator: my view is that the chinese government should adopt a more systemic and comprehensive approach, for example, how to escape a better sense of reform in this country so that the public will have more confidence in ensuring the culture of mutual trust can be established. >> what's interesting is that this group, also becoming more influential in political circles. we'll hear a little later from the
're going to talk markets, the economy and much, much more. stay tuned for that and a lot more. >>> welcome back. now to the markets. it's going to be a big weekend ahead. joining us, lou brian. lou, place your betts. more likely up or down for the dow this week? well, you know what? i tend to look technically at the s&p instead of the dow. >> how about the s&p? it's a broader market index, even better. >> all right. i think that the interesting thing is that where the s&p held last week, this 1540 is a mark that held in march and early april and, again, last week, we went just a little below it. also in play around that level is the 50-day moving average which held the market a couple of times. if you're looking to get long on a tray, that's not a bed level because you kind of know where you're wrong when it goes underneath that. i think the interesting thing with the stock market is that it's really the only market right now that's playing along with the fed's qe brochure. don't fight the fed. buy on fed accommodation. the crude oil, the gold, copper, various commodities are lower since t
reporting exceeded estimations. it is an indication of -- of -- of a stronger economy. if somebody told me we would have a 5% correction i would say look at that as an opportunity to get into the market. >> which is basically what you just said, jonathan, right? >> yeah, i do think larry is perhaps a lit totle too optimis. cull pans are beating the quarter and missing revenue estimates. if you take out financials because of special, some things are specific to their sector, you really are seeing negative earnings growth not compared to prior quarter but a year ago. things are weak. domestic companies doing much better than companies with big global footprints. >> what are you expecting from the week ahead? more heavy earnings numbers coming out. brig group of companies. and the gdp end of the week. >> i think actually for the reason. a lot more chop in the market. a lot of two way action. company specific. i think we have to get a little bit of clarity on whether companies feel this is just a little rough patch. we are going to pick up on the back end. there is an interesting wrinkle below
important than ref knew. i know the economy is soft. therefore revenues is soft. why aren't earnings much more important? why is wall street so obsessed with the revenues? >> the good news, larry, is that even though they talk about the revenue a lot and complain a lot about the revenues, the stock market -- we hit all-time highs this year, and we're up basically for four years in a row now, and that tells me that underneath all of this complaining and fear profits really do matter, and if you look at after hours tonight, i mean, who knows what will happen tomorrow, but the companies that beat on the profits are on the upside tonight in after-hours trading. >> profits are the mother's milk of stocks, i've said it before and revenues are not the mer's milk of stocks. profits are. >> that's absolutely true. isn't it also true, brian, that when you look at fact that in general earnings are coming in pretty good for a large number of companies, we still look at -- look like the best looking girl at the dance, especially when you compare us to other part of the world like europe? >> that's abs
worried about china especially about the economy after the lower than expected growth numbers that we saw this week. and he addressed that. he was talking a bit about the concerns about rising debt levels and he played those down. he played down the weaker growth. >> i don't think people should panic about chinese economy will continue to grow at the sustainable level. the government's target could be fulfilled without much difficulty and we aim at the quality of the growth. i don't think achieving 7, 7.5% is a big deal for china. i don't think so. >> the fund invests heavily in resources. i couldn't help myself from asking him specifically about gold. he believes the sudden drop in gold is general instability in the global economy. he hopes it comes back at some point soon. >> thank you very much. we were watching that and that's the perfect segue. we've been watching what's happening and it's important to see what the chinese think about this and no better person than cic chairman. we'll talk about gold and what's been happening not only with gold but also oil prices after yesterday slu
. the economy is getting worse. but the fed is all in. they're at 85 a month. now, maybe some people like jim bulllard are talking about doing more, but that's not on the fed's table right now. what's on their table is potentially tapering out of the 85 a month when the market wants more. the market is stuck. they want more from the fed, because the economy is weakening, or they want the economy to rebound and nothing's happening and we jump around all over the place. >> warren, what do you think? you've been constructive on this market all through the first quarter. you felt like there was more to go here. but do you feel like the psychology is changing with the volatility that we've seen this week? >> i'll tell you, this week has been a little bit troubling, and i have been pretty bullish up until this point. when you tend to see days like this, where the day after day, up and down bid on the dow, 100-plus point move on any given day, that's a sign that this market is truly struggling. >> are you rethinking your bullish position, at least for the short-term? >> a little bit. i think the thi
? >> my instinct tells me that the answer is no, that in economic terms i think the market, the economy at large will move beyond this relatively quickly. but at the same time, there may be some lingering impact in terms of investor sentiment. the sell-off clearly that occurred on friday and then again on monday, in my opinion, was a reassessment of the pace of global growth. important to point out that most of the weakness yesterday was already in the market before the bombings took place. but clearly, there is an impact on investor sentiment, a reminder that it's a dangerous world. and so you may see a little bit less of a risk appetite going forward. in economic terms, i think we'll move beyond it fairly quickly. >> yeah. john, i guess you would ask, at this point, you wouldn't think that consumers would change behavior based on this. it could potentially aveng -- i don't know, whatever group you want to talk about, jonathan, restaurants or any type of tourists activities. nothing to expect at this point, do you think? >> if you said to me are consumers going to be spending time watc
and granger. that's a great tell of the real economy. boy, it's hard not to -- >> there's a lot going on regarding housing. we'll keep our eyes on the homebuilders. >> these people want to try to find a hole in the housing starts, good luck. this is a very big move and we're building far fewer homes than what are destroyed by fire and flood. a lot of people will live with their mother-in-laws. >> despite what we know about the price of building products, right? and the cost of contractors and electricians. >> and i think some of those costs again will come down. copper came down big, and aluminum bid. we'll take you to boston. we're expecting this to be the fbi in charge of the boston field office and deval patrick there and the u.s. attorney carmen ortiz. let's listen in. >> everyone, thank you for coming this morning. less than 24 hours after yesterday's act of terror we wanted to organize a briefing for you with the information that we have. the mayor is here, the members of our congressional delegation, all of the law enforcement leadership. we have several people who want to pres
's almost always because of fears about a steep slow down in the economy. now, it's the global economy. yeah, the worries used to be the united states centric. and perhaps the economy had been growing too hot. and the fed was raising rates. perhaps the monthly employment numbers showed a sudden reduction as we saw in the late summer of 2007, which ushered in the great recession. maybe there is a shocking shutdown in retail sales. now, i'm not saying that every single selloff plays out like this, but the vast majority of them actually really do. of course, lately we have a new element. we are all one world these days and a slow down in china is now greeted as more of a threat to our stock market than an actually slow down here in the united states. crazy. but it's true. when you get these kind of jitters, which include the requisite collapse in commodities like oil and copper and the markets sell, sell, sell, can't be combatted overnight because it's so horrendous, it does kind of paralyze things. but here's what happens. certain sectors stabilize a lot faster than others. particularly if the
and a reminder that the government is a net drag on this u.s. economy. >>> check out auto nation. there is no better gainer on the s&p. stock that's already up 17% this year. >> it's remarkable. >> we all know what pent-up demand is for cars. we all know the mileage that's on the average trade-in. >> i like mike jackson. when you contrast europe with the united states, think of auto nation. okay? they can't move a car in europe. they can't move one across the street. >> you're absolutely right. talk about a dichotomy. >> we are not one world. used cars going up, too? the country you can get, wells fargo largest auto loan company. you can get money for a car. it is tougher to get money. richard smith, i have this guy from realogy. a large real estate company. they're holding their value much more than you thought in the united states. >> morgan stanley is down 3%. talked about m and a, lack of activity saying it just reflects the ceo's lack of confidence with regards to earnings power. >> which is what you hear. those who are doing deals, it is interesting, are the likes of -- or
, beat or miss estimates? as for the economy, here is today's calendar. >> how is the crowd sourcing experiment gone so far? i haven't looked at the results. >> the results for coming. >>? >> i can't even log in to the borrowing page. >> they've gotten some decent numbers that have come this. i think there are 1500 or 1700 -- >> but are they better -- >> they're good at it, but i think we have made the mistake of picking from predictable companies. that's why we started picking some trickier companies like apple. that's the one that's up in the air. nobody knows exactly what's going to happen. if you can beat on these companies, then we're going to be more impressed. >> apple generates a lot of attention and feedback. if i put out on twitter, will apple meet, beat or miss, some people will say it will meet, some will say it will miss and others will stay you stink, sullivan. >> but you will get responses by putting apple out there. >> anything you say on apple, and i'm an apple lifelong user, and i referenced a couple weeks ago that i was going to buy a windows 8 machine because it w
. i know lgt runs some money that's invested into the russian economy. tell us a little bit about the character of this market and whether you can put cash to work here and feel comfortable that you are going to get a return. >> yep. we are invested in the russian market. but it's true, we have a lower allocation to it. the 11% toe 2% sounds quite low. it is a difficult way to access the markets. we see fundamentally from the point of view a strong currency. you look at low valuation, you look at the current surplus, you look at growing middle income class, which wants to consume, so key market indicators are actually strong. the challenge is much more the investment type. so we look at a narrow market, the way you invest is mainly into oil and energy companies. which most of them are state owned to the majority, so we end up being minority investors. what that means is it's still difficult for to us play to the russian growth topic investmentwise. what we can do is we can look at valuation, we can look at it from an optimal point of view. we can see if there is opportunities whic
estimations. it's an indication of a stronger economy, it's an indication of corporations, you know, managing their expenses properly. so it does validate my long-term view, but if somebody told me we were going to have a 5% correction, i would say, look at that as an opportunity to get into the market. >> certainly the way investors are looking at it, once again, today. cnbc contributor, carol roth, says she's not buying the growth story. carol, eric, good to see you. carol, you say you're not buying the growth story. how so? >> i'm not, maria. i seem to be one of the lone voices out there that does not believe that this market is driven by growth. it is driven because of lack of alternatives and because of the fed. larry mentioned something about koch. well, yes, koch beat earnings by 1 cent, but if you look at the year over year revenue, they actually declined. so we have a lot of financial engineering. we have a lot of costs coming out of the cost structure. that is not sustainable. if we want to have growth multiples on an ongoing basis, the topline revenue for these companies needs to g
is a realization now that the market is probably well ahead of itself, based on what the economy is, based on what we're seeing happening around the world in china, certainly what's going on in europe. so the fact is that investors all of a sudden are deciding, geez, we better start paying attention to this news, becausing the market is well ahead of itself. so what you're seeing is the market backing off and really coming back or trying to come back to a state of equilibrium between where the economy is and where the market should be. the whole boston thing and boston marathon and that down in d.c. is certainly adding some angst to the market, but that's not the reason the market is off 170 points. part of it is much more technical just in terms of market action. >> but, michael, when we saw the market come off the lows, it happened to be when we thought there was an arrest. is that a coincidence with the markets? >> i think to some extent, there's going to be a little bit of a relief move if you see some kind of arrest really happen, but these deflationary pressures have been in play since the e
rates. it's tough to make money, michael yoshikami, when you're in that economy and markets are that low. >> it's impossible to make money on the margin. and i think it's important to recognize that what american express is probably getting hit on here is what's happening with tax rates, happened in the first quarter of this year, and the other issue that's really occurring is i think businesses are still holding back on spending. significant percentage of their revenue comes from businesses. and you know, on the long-term, also, we have to be very, very aware, american express, on the long-term, is going to -- >> they're having a fire drill here at the new york stock exchange. >> it was scheduled. >> pre-scheduled, exactly. it was scheduled already. so ignore the noise here happening around me. >> okay. >> very quickly, i want to get to bruce mccain as well, michael. finish your thought. >> my thought was, you have to be careful about companies like paypal, all these other very inexpensive swaywaways to colle money, it will be a hit on american express margins, eventually. >> bruce mcca
. that will be the biggest day for me because they're the big indicators of how the global economy is doing overall. speaking of the global economy, caterpillar if this was clearly a disappointment and the guidance was disappointment and they telegraphed it a little and the stock's been up and the dow this morning and the two things here, number one, he's coming on and talking about stability and that's the key word on our air on cnbc and a lot of people have noted the drop in mining. mining was down 25%. sales in the mining division, second most important was down 25%. i think a lot of people have got that already set up. remember, this is heavily shorted stock and it was $100 two months ago and it's $80 today and a lot of people anticipated what's going on. let me mention apple very quickly. the hope here is for a special dividend, increase the dividend to over a 3% yield and start with the big buyback. that's the big hope there. nobody's expecting them to blow the cover off of any of these numbers and all of them have been coming down. >> guys, back to you. >> watching microsoft continue to gain now up 4.
was not working. >> that's a good point. you thought maybe stand above all of the other lesser economies and the news did start to tighten. >> i thought it was the most important article in the paper. maybe they're breaking ranks [ bell ringing ] >> and his own jack lou? >> hard to tell. >> they are geniuses. >> i took economics, and i couldn't wait how long they were. >> there's the bell. s&p at the top of the screen. state street global advisers and blackstone celebrating the recent launch of the spider, senior loan etf. the texas independent producers and the royalty owners association doing the honors. you cannot start this market day, jim, without talking about netflix. a 25% move is a big move even on that name. >> that was a big short position. there was not a lot of stock that was out there. it's a very tight flow. >> a lot of people kept thinking that this is the quarter where we find that the bulge in new subscribers wasn't happening and there are other people who immediately point out, look, the cash flow is not that good and the 36 analysts who cover the stock only six are re
underpinning for the economy, we think the gold position is largely unnecessary in portfolios. >> why japan specifically? >> these actions are rather radical. that means that japanese insurers will have to -- and other financial institutionless have to seek out risk estates, then in terms of bonds globally. and so basically what we're see is the anticipation of that in the market so far. what we expect is a very significant increase in the nikkei, a significant decrease in the value of the yen, and a lot of assets moving from japan overseas. >> yet if you look at the chart of the nikkei that we just had up over a one-year period of time, it's already up over 37%. does it need to take a break? >> the bank of japan is setting new starting points and it has performed extraordinarily well. we think it has another significant leg up. remember the large institutions will be japanese moving from japanese institutions moving from fixed income in a by way, and we think the overseas money will follow as well. how would you play it and how are some of your clinds playing it? >> it's sore of counter in
result. also what i liked is some of the bright spots that we see in an otherwise challenged economy. namely, the recovery of housing, particularly in our big housing states of california and florida. this has put an underpinning under consumer confidence and we see the preassumption of home construction, the energy situation in texas is very strong, lead to go an increase in pickup truck sales for us of plus 18%. we also had significant acquisitions in the quarter. in both phoenix and dallas, revenue run rate of 250 million, which when combined with last quarter is now over 800 million of acquisitions within the last six months and is, finally, and last but not leaf least, we've branded 0% of the company now under the flag of auto nation and the branded markets, even though we walked away from some names that were 80 years old, improved share right out of the box. >> that's what i was thinking, you know, wayne has been trying to get you to do that for a while and you finally listen to him and then you get the best quarter ever. >> yeah, you know, i should always listen to wayne soon
and when your biggest trading partner has a no-growth philosophy and paralyzing its own economy, you are not doing a lot of business with ta partner, and the proximate cause for the weakness here in the united states was the shell lacking in gold and the worst decline since 198 1980, and what we look at the etf falling 8% in a single day and now gold futures tumbling 15% in two days, and that is ri markable. and what caused that go down hideously? and gold and wheat causing all of the commodities to plummet, and oil did drop a little bit more than $2 after being down badly last week, i could say, yes, to that. i could say, yes, gold is that powerful and crush all sorts of assets in the declining wake, but it isn't. i could easily tell you, of course, that the slowing in china caused gold, copper, aluminum and other stocks the decline. it didn't. it would be an excuse that would fit the picture, but mystify you even more and really be nothing more than attempt by me to put the irrational in the rational box and then wrap a bow on it. think about it. china is terrible all year and noth
weaker economies. and when you get the imf admitting that austerity isn't the way, and i don't disagree. if you didn't do reforms and you didn't do pro growth, all three ingredients needed to make a growth economic cake, i shudder to think what happens next. many suspect moody's may downgrade spain. >> with all of that said, stephen, how do you want to allocate capital right here? >> i think you need to look into equities. it's very interesting. look at the 1,000 and 2,000, large and small cap space, but also defensive versus dynamic, the rally we've seen has been very strong. it's had this very defensive tam boar tambor. it's like this sub tub city -- city constitution effect. global economics, look at the u.s. first. name by name basis. emerging markets. i would think global bonds. longer term investors, commodities from a valuations perspective look attractive. >> commodities? gold? >> not necessarily gold. >> oil? >> dr. copper. the valuations are beginning to pull in a little bit if you've got three to five years which maybe a lot f of people don't have. if you're a longer investor
something horrible to happen, or you need a total collapse of the economy. i don't see either. >> well, we're actually talking about two different events. relative to a correction this year, i think that we're looking at something similar to 2011. 10 to 20% off in the second or third quarter, kind of a reaction to this building uncertainty, this volatility we have seen since february. in terms of the bigger crash call that i've been making for more than a year now, as the s&p continues to top out very similar as it did in 2000 to 2007, i think you're right. i think that we are looking at some kind of external shock situation. >> no, no, i'm not -- i'm saying that's what you need to make your forecast right. i'm not predicting that. i don't see the end of the world scenario. i don't buy it. >> and i hope that bernanke -- >> gold signal. i just don't buy it. and so much liquidity -- seema, are you hearing this end of the world -- all right. let's take abigail. 10 to 20% correction. are you hearing that? >> if the fed pulls back on monetary support sooner than expected, i think there are trad
the same with gold. i think the drop in gold is a very positive signal for the longer term economy. but i think these events coming together so rapidly, what went on in boston and the gold crack up and you mentioned commodities, it has given people an excuse to take whatever, 5% to 7% breather in stocks. >> i think that's a good point. what we don't talk about, money coming out of gold is not a bad thing. it's a positive thing in the long run for equities. other commodities especially oil, gasoline prices come down 17% from their peak. i think that's going to be a positive in the economy. so you have to look at the bright side of some of these things. but you're right, it's impossible to separate the emotional from the economic. and we have both going on. a tragedy occurred. it's hard to separate both. >> emotion plays a big role in the stock market. art, thank you very much. we'll resume our coverage of the boston marathon bombing investigation when the kudlow report comes right back. maxwell is not. he's on geico.com setting up an appointment with an adjuster. ted is now on hold with hi
of this economy that are going strong? like housing. a totally domestic industry. not france, not generation not socgen. that's not going to be droild by european woes or a chinese slowdown. they have nothing to do with each other. the housing comeback is still with us. as we know from yesterday's terrific housing starts number. and this is the kind of huge multiyear theme that's going to keep powering forward no matter what you're fretting about. take a look at this chart of new housing starts. you can see that we're very much on the upswing. but we still have a long way to go before we reach the elevated levels that we saw back in 2005-2006. so how do we play the housing resurgence? right now what do we do? what can we snoen what about realogy? a huge realtor that's the world's largest fran schooizer of residential real estate brokerages. coldwell banker, century 21, sotheby's, better homes and garde gardens. last year this company was involved in more thain quarter of all domestic home sales transactions that involved the broker. they are that big. they came public back on october 27th. i
rand. some of these companies might disappoint and say, listen, the global economy is a little on the slow side. we saw ge down today. >> ibm was the loser. down 8% in one day. bob, what's kboing going on, th? is it the slowdown in the global economy? >> yeah. that's why you want to watch these multi industry companies. it's nerdy to talk about ingersoll rand. but they make the stuff out there behind the walls. they make all the things that keep these buildings going and systems operating. when they talk about things slowing, we don't know if they're going to, but we've heard about slowdowns globally. that's where you're going to see it first. >> ingersoll rand is also going to sidestep on the housing recovery. that could be a positive. >> a little bit. you're going to tear them talking about where things are overseas. what's good about these companies, a lot of earnings are overseas. >> global story then the consumer. coach out tomorrow. >> north america's the key. >> coach had an issue last quarter. >> the problem is north america. i think their sales growth was something on
is talking about a spring swoon for the economy. isn't spring a time for revival and resurrection. let's bring in our ace investor to get his forecast on the potential swoon. jeff klein, chief strategist, one of the best of the best. good to see you, jeff. why is it so gloomy all of a sudden? golly, this is not like last year. you a saw the housing numbers today, home sales off a tiny bit, but 11/12% price increases year on year, that's totally different from prior years. >> it is right, the housing situation is better. the auto sales are good. there are a lot of things in much better shape. but the market is all about expectations. the fact is economic data as solid as it has been lately has come in weaker than expectation, so have profits and importantly revenues lately. it's not that we see them falling off a cliff, if expectations got a little too high or rosy, it's funny, larry, as we looked at this year back at the end of last year, we laid out scenarios, a bulk case, down the middle base case, stocks have taken the bull path. bonds are kind of right in the middle. it's interesti
western economies are not looking good at all and many of them are in contraction. so it's a bit of a mixed picture. we're not that certain. investors have money to allocate to right now go for gold and silver first before looking at other commodities, except, perhaps, natural gas equities and they're extremely trading, many of them trading well below book values. that's another dpesed opportunity. >> always good to have you on. martin hennecke, associate director at type. >>> shares of softbank after someone made a competing bid for sprint. but softbank remains determined says it is still the best on the table. fashuiko has the story for us from tokyo. >> hi, ross. dish may be giving them a run for their hone, but softbank is still confident of its $20 billion bid for strength. softbank said its choice to invest in sprint is superior to the offer made by dish. it expects to close the deal on july 1st with its original plan. softbank's $20 billion deal to acquire 70% of sprint reached agreement by the two companies in october and is now under review by the u.s. federal communicat
does, and he believes -- he actually says the economy is not bad for their customer base as you might think. in an environment like this malone cease cheap money and the ability to lever up cash flow-producing businesses and he will keep doing that and liberty global will be leveled high. you get to some high levels in terms of how much debt versus how much cash flow you have. nonetheless, that's a strategy and that continues to be one. >> use it. use it. use it. >> everyone always talks about how they've got to go overseas and then they pay too much. here's a guy who is going in and he's not paying too much. he is down substantially and any time you ever listen to a conference call, it's, like, woe is me, and here's a guy that says i'm taking advantage of it and that means to me that there will be a bottom because he's too smart to bet against them. >> we'll meet coat-directors of a documentary on bernie madoff said to premiere at new york's tribeca film festival. the dow is down 108, reversing what we got yesterday. back in a minute. ♪ ♪ [ male announcer ] how do you engineer a
. an educational mecca, health care mecca. we're an innovation economy mecca. and this may have made us a likely target for what happened at the boston marathon on monday. >> thank you very much for joining us. he is with boston globe, which has been putting out a lot of the information we have been following since monday. >> dow looks like it would open up 22 points. s&p up 8 points. nasdaq by 22 points. and a business story of notes and breaking news. dell's special committee is confirming it has received a notice from blackstone group. sit withdrawing from the bidding process. blackstone will not submit a definitive proposal to buy the company. they submitted an indication of interest for 25eu billion offer in march. a letter saying that it "found a significant number of issues that surfaced since we submitted our letter of proposal on march 22nd." specifically i should note an unprecedented 14% market decline, the steepest drop in history. they are now saying is inconsistent with management's own projections for growth. ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come i
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